Peter Hearl, chairman of Dan Murphy’s and hotels owner Endeavour, writes to shareholders hitting back at 15 per cent shareholder Bruce Mathieson.
Endeavour Group owns 354 hotels, 266 Dan Murphy’s, and 1435 BWS outlets and is in a stoush with its largest shareholder, pubs billionaire Bruce Mathieson.
also reinforced in a letter to shareholders that the board was acting in the interests of all shareholders, not just one. It reinforces that the board recommends shareholders vote against the election of Mr Wavish at the annual meeting on October 31. Mr Hearl also asks that shareholders think about whether Mr Wavish would be considered an independent director and to “reflect on this core tenet of our governance”.
Mr Mathieson is spending millions on an advertising campaign to try to convince the 420,000 shareholders that change is needed, claiming that $5.6 billion in sharemarket value has vanished since August 2022.
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